Directions have been issued by EPFO to all its field offices to make the payment of provident fund and pension to members of EPF Scheme, 1952 and Employees Pension Scheme, 1995 on the date of retirement.

Retirement fund body EPFO's investment in stocks through exchange traded funds (ETFs) is expected to cross the Rs 45,000-crore mark by the end of the current financial year, said the Labour Minister Bandaru Dattatreya.

Retirement fund body EPFO may bring 500 private PF trusts within its fold whose EPF accumulations are around Rs 1 crore each, or have up to 20 members, for offering better services to those subscribers.

Trustees of retirement fund body Employees' Provident Fund Organisation (EPFO) may approve a proposal on Saturday to reduce the mandatory contributions toward social security schemes run by it to 10% for workers as well as employers.

The Finance Ministry is believed to have permitted the Labour Ministry to go ahead with 8.65 per cent rate of interest on employees' provident fund for 2016-17, which will benefit over four crore EPFO members.

Retirement fund body EPFO has decided to reduce the administrative charges to 0.65 per cent of total wages of an employee from April 1, a move that will result in savings of around Rs 1,000 crore annually for about 6 lakh employers.